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MODCAM

Modcam – vision sensors with onboard analytics for retail customer analysis

Total Cost €

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EC-Contrib. €

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Partnership

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 MODCAM project word cloud

Explore the words cloud of the MODCAM project. It provides you a very rough idea of what is the project "MODCAM" about.

distributed    manually    200    efficient    sek    customers    remarkable    conduct    translates    bandwidth    promotion    solution    professionals    expertise    hot    visitors    camera    gather    sensor    zones    feasibility    300    6816    server    combining    2020    26    lower    charging    monthly    stores    modcam    batch    compact    device    data    roll    retailer    flow    companies    analytics    2013    customer    cold    solutions    launched    complete    countries    retailers    unlocking    paying    commercial    network    chains    senior    video    patent    amount    employees    least    market    queue    effectiveness    mobile    retail    class    annually    17m    telecoms    ebit    ikea    sales    bi    costing    remote    holds    vision    first    negotiations    track    capture    pixels    markets    immense    patents    50    demographic    barrier    operations    75m    swedish       full    fee    statistical    becomes    insights    world    sme    optimize    hitting    sensors    revenue    pain    proprietary    prepare    powerful    earns    advances    points    store    eleven    speed    counts    1600    provisional    computer    generation   

Project "MODCAM" data sheet

The following table provides information about the project.

Coordinator
MODCAM AB 

Organization address
address: BREDGATAN 4
city: MALMO
postcode: 21130
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Sweden [SE]
 Project website http://www.modcam.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-01-01   to  2017-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MODCAM AB SE (MALMO) coordinator 50˙000.00

Map

 Project objective

Advances in camera and sensor technology are unlocking remarkable opportunities for in-store retail customer behaviour analysis, enabling retailers to optimize operations based on rich data insights. Using vision sensors, retailers can track customer flow to determine hot and cold zones, promotion effectiveness and queue speed, and gather demographic data. This is far more effective than methods used by chains such as IKEA, which still counts visitors manually bi-monthly, costing €1600. The first generation of retail analytics technology is now hitting pain points. Video holds an immense amount of data, and analytics are currently conducted on a remote server, meaning network bandwidth becomes a barrier. Modcam has developed a cost-efficient technology solution for retail analytics using powerful proprietary vision sensors that can conduct video analytics in the device. This means only statistical information is distributed over the network rather than pixels. Using Modcam, a retailer can set up a complete customer analytics system for at least 50% lower costs than current solutions. Modcam is a Swedish-based SME that launched in 2013 by 4 senior technical professionals combining world-class expertise in computer vision and mobile telecoms. It has obtained one patent and two provisional patents for its methods, and has already produced a commercial batch of its compact sensors. It has four paying customers, and is in advanced negotiations with eleven companies including IKEA and H&M, with potential full-scale roll-out in up to 6816 stores. Modcam earns revenue by charging a monthly fee of between 200 SEK and 300 SEK per device. It aims to capture 2% of the retail analytics market in 4 countries by 2020, which translates into 26,000 unit sales annually. This will result in revenue of 75M SEK, an EBIT of 17M SEK and 40 employees. This feasibility study will prepare Modcam to scale up across new European markets.

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The information about "MODCAM" are provided by the European Opendata Portal: CORDIS opendata.

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